Russia – Ukraine peace agreement can reduce gasoline prices: CEO of Soros Fund
Dawn Fitzpatrick, CEO of the George Soros family office, said the ongoing peace talks between Russia and Ukraine could help the Trump administration’s ultimately good commitment to lower gasoline prices for Americans. “Trump needs more oil, right? He has been pledging part of the U.S. consumer price is lower, especially when it comes to gas pumps.
Fitzpatrick said Russia’s invasion of Ukraine three years ago did not immediately “reverberate” through the market because “from a transactional perspective, Russia is not important.” But the United States has played a decisive role as warring countries try to negotiate a peace deal, and the “wildcard” could be Russia’s withdrawal from OPEC, which could have a real impact on whether Trump can deliver on his promise to U.S. consumers lower gasoline prices. Along with Saudi Arabia, Russia is one of the most powerful members of the oil alliance’s expanded group OPEC+. “In my opinion, the only thing worth looking at in the trade market is oil,” Fitzpatrick said.
Last week, President Donald Trump held a fierce Oval Office meeting with Ukrainian President Volodymyr Zelensky, which ended without any signature of the agreement. Trump insisted on ending the conflict between Ukraine and Russia, and Zelensky refused to sign a ceasefire today (March 4) with no security guarantees, without security guarantees, and issued a statement proposing a partial ceasefire and reiterated his desire to “confer a strong final agreement with the United States.”
Fitzpatrick acknowledged that it is still a “big word” to whether the United States can eventually make a peace agreement. But given the U.S. domestic drilling challenges and the resistance of the Saudi Arabian oil industry has increased production, Russia has become “a lever he can really pull” to lower gasoline prices.
Trump has previously pushed OPEC towards a potential tool to stop the war. In recent weeks, the U.S. president has repeatedly called on the coalition to lower oil prices in order to exert pressure. “If prices fall, the Russian-Ukrainian war will end immediately,” Trump said in a speech at the World Economic Forum in Davos.
In addition to CEO, Fitzpatrick serves as Chief Investment Officer of Soros Fund Management. Home Office Selective investments in the oil sector have been made in line with its climate action strategy. No specific details about its current oil-related investments were disclosed publicly.
